Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria.

One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down the road.

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Scott Hum GRI, ABR, e-Pro, REALTOR
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Hello and thank you for visiting! Northeast Florida has been my home since 1994. I have lived in Arlington, Jacksonville Beach and now call St. Augustine home. I moved from small town in Central Illinois to get away from the snow and to further my wife's education. Kim and I live outside St Augustine with our two yellow Labradors. I received my Real Estate license in 2002 my Brokers license in 2004 and my GRI(Graduate of Real Estate Institute) in 2005. I furthered my education by earning my ABR(Accredited Buyers Representative) and E-PRO certifications in 2007. It is my goal as your full service real estate agent covering Duval and St.Johns counties. I will provide you with superior service at all times. My local expertise and extensive real estate experience will benefit you whether you are serious about buying or selling a home at this time, or are a returning client checking out the many homeowner resources I offer. My patience is helpful when you are making a financial decisions of this size.

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